Detailed Answer
Disclaimer: This information is educational and does not constitute legal advice. Consult a licensed attorney in New Hampshire for guidance.
In New Hampshire, a surviving spouse can elect a year’s allowance from the decedent’s personal property under RSA 561:16. This election must occur within 6 months of the decedent’s death and ensures the spouse receives up to a statutorily set amount (currently $30,000) for support. To calculate and approve this allowance, the probate court reviews an inventory of personal property assets.
Yes, you must list all personal property assets subject to the year’s allowance. “Personal property” includes tangible items (furniture, vehicles, jewelry) and intangible assets (bank accounts, stocks). The administrator or executor files a detailed inventory under RSA 556:19 (Inventory; Appraisement), identifying each asset and its fair market value. The court compares this list to the allowance claim to determine the final distribution.
If the total value of personal property exceeds the allowance, the executor pays the surviving spouse first. Remaining assets distribute per the will or intestacy statutes. If the estate’s personal property falls short, the spouse may claim additional distributions as an unsecured creditor under RSA 551:8 (Claims against Estate).
Helpful Hints
- Start the inventory early: Collect asset descriptions, ownership documents, and current values.
- Use professional appraisals for high-value items to support fair market values.
- Keep thorough records: Dates, receipts, and valuation methods avoid disputes in probate.
- Meet the 6-month deadline: Late elections may forfeit your right to the allowance.
- Separate personal and real property: Only listed personal assets qualify for the year’s allowance.
- Notify other beneficiaries: Transparency can reduce objections and delays.
- Consult a probate clerk: Local court rules can affect form requirements and filing fees.